How Much Do Excavators Cost?

Last Updated on June 9, 2025

Whether you’re a seasoned contractor or new to the construction industry, one question that often arises is, “How much do excavators cost?” The answer depends on various factors such as size, type, brand, and condition. In this comprehensive guide, we explore factors influencing new excavator prices, as well as used, to provide you with a well-rounded understanding of excavator prices.

Excavator Cost Overview

Excavators come in a wide range of sizes and types, each with its own price point. Here’s a general cost comparison table for different excavator types and sizes to help you learn more:

Several key factors influence the cost of an excavator. Gaining a clear understanding of these variables can help you make a well-informed and cost-effective purchasing decision:

• Brand: Well-known brands like Caterpillar, Komatsu, and John Deere often command higher excavator prices because of their reputation for quality and reliability.

• Size and capacity: Larger excavators with higher digging capacity are generally more expensive.

• Features and technology: Advanced features like GPS tracking, telematics, and automated systems can increase the price.

• Market demand: Prices can fluctuate based on supply and demand in the market.

• Location: Prices may vary depending on your geographical location and local market conditions.

New Excavator Costs

Investing in a new excavator means paying a premium for cutting-edge technology, comprehensive warranty coverage, and the confidence that comes with a machine free from previous wear and tear. Below are typical price ranges based on size and type:

• Mini excavators (0-6 tons): $20,000 to $80,000

• Midi excavators (7-10 tons): $60,000 to $150,000

• Standard excavators (11-30 tons): $100,000 to $300,000

• Large excavators (31+ tons): $250,000 to $1,000,000+

Benefits and Disadvantages of Buying New

Investing in a new excavator comes with several important benefits. Key advantages include:

• Latest technology and features

• Full warranty coverage

• No hidden wear and tear

• Potential tax benefits for new equipment purchases

Buying a new excavator also may involve some challenges. Here are the main disadvantages to consider:

• Higher initial cost

• Rapid depreciation in the first few years

• Possible requirement of a larger down payment or stricter financing terms

Used Excavator Costs

Used excavators can provide substantial cost savings over new models. However, it’s essential to carefully assess their condition, service history, and overall wear when making a purchase decision. Typical price ranges for used excavators include:

• Mini excavators: $10,000 to $50,000

• Midi excavators: $30,000 to $100,000

• Standard excavators: $50,000 to $200,000

• Large excavators: $150,000 to $700,000+

Opting for a used excavator can offer excellent value, but it requires due diligence. To make a smart investment, be sure to evaluate the following factors before finalizing your purchase to avoid unexpected repairs and ensure reliability:

• Age and hours of operation

• Maintenance history

• Condition of major components, such as engine, hydraulics, and undercarriage

• Availability of parts and service support

• Potential for hidden issues or upcoming major repairs

Benefits and Disadvantages of Buying a Used Excavator

Buying a used excavator can be a cost-effective way to access reliable equipment without the high upfront investment of a new model. Below are some of the main advantages to keep in mind:

• Lower initial cost

• Less initial depreciation

• Potentially lower insurance costs

Although purchasing a used excavator can reduce upfront costs, it may also introduce added risks and limitations. Keep the following potential disadvantages in mind:

• Higher risk of mechanical issues

• Limited or no warranty coverage

• Older technology and features

• Potential for higher maintenance costs

Mini Excavator Costs

Mini excavators are popular for their versatility and maneuverability in tight spaces. New mini excavators typically range from $20,000 to $80,000, while used mini excavator models can be found for $10,000 to $50,000 depending on their age, condition, and features.

Common applications include:

• Landscaping and light construction

• Utility work in confined or urban environments

• Trenching and digging on small job sites

• Installing irrigation or drainage systems

Key benefits of mini excavators include:

• Easy to transport between job sites

• Lower fuel consumption and operating costs

• Reduced ground disturbance compared to larger machines

• Simple to operate and maintain for smaller crews

Large Excavator Costs

Large excavators are essential for demanding construction, mining, and infrastructure projects. While new models typically range from $250,000 to over $1,000,000, used machines can cost between $150,000 and $700,000+.

Typical uses of large excavators include:

• Large-scale earthmoving

• Open-pit mining

• Heavy-duty demolition

• Major infrastructure development

Before investing in a large excavator, it’s important to consider the following factors:

• Specialized transportation and setup required

• Higher fuel consumption and operating costs

• Need for skilled operators and additional safety measures

• High productivity but greater capital investment

Discover Cost-Effective Excavators On Municibid

If you’re looking to purchase an excavator, whether to expand your fleet or secure an excavator for an upcoming project, Municibid offers a practical and budget-friendly alternative to buying new. Through our trusted online auction platform, you can access a wide range of used excavators sourced from government agencies, municipalities, and public utilities that are well-maintained and ready for work. With no dealer markups and a transparent bidding process, Municibid gives you the opportunity to secure high-quality equipment at significantly reduced prices.

Excavator Rental and Hire Options

Renting an excavator can be a cost-effective solution for short-term projects or when testing different models before purchase. To rent an excavator through a rental company, daily rates typically range based on the size of the machine:

• Mini excavators: $200 to $500 per day, $600 to $1,500 per week

• Standard excavators: $400 to $1,200 per day, $1,500 to $4,000 per week

• Large excavators: $1,000 to $3,000 per day, $3,000 to $10,000 per week

Several factors can impact the cost of renting an excavator. Understanding them will help you budget more accurately and choose the best rental option for your project:

• Size and type of excavator

• Rental period

• Location and availability

• Additional attachments or features

• Rental company fees

Advantages and Disadvantages of Renting an Excavator

It’s important to consider both the benefits and drawbacks to determine if renting is the right choice for your project. Below are key points to help guide your decision.

Advantages of renting:

• No long-term commitment or maintenance responsibilities

• Access to the latest models and technology

• Flexibility to choose the right size for each project

• No storage or transportation costs between jobs

Disadvantages of renting:

• Higher cost for long-term use

• Limited availability of specific models

• Potential for unexpected rental extensions and associated costs

Is choosing to rent an excavator the right solution?

Renting an excavator can be a practical solution in many scenarios. It may be the right choice if:

• You have short-term or infrequent excavator needs

• You want to test different models before purchasing

• Your projects vary significantly in size and scope

• You lack storage or transportation capabilities for owned equipment

Operating Costs

Beyond the upfront purchase or rental price, operating costs are a critical component of the total expense of using an excavator. These ongoing costs, including fuel consumption, routine maintenance, repairs, and labor, can significantly impact your budget over time. Understanding and accurately estimating these factors will help you better manage your expenses and optimize the profitability of your equipment investment.

• Fuel consumption:

  • Mini excavators: 0.5 to 1.5 gallons per hour

  • Standard excavators: 2 to 5 gallons per hour

  • Large excavators: 5 to 15+ gallons per hour

• Maintenance and repairs:

  • Regular maintenance: 2-5% of the machine’s value annually

  • Major repairs: Can exceed 15% of the machine’s value

• Labor costs:

  • Operator wages: $15 to $40 per hour, depending on experience and location

  • Training and certification: $500 to $2,000 per operator

Additional Costs to Consider

When budgeting for an excavator, it’s essential to account for more than just the purchase or rental price. A range of secondary costs can impact your overall investment, including transportation, insurance, and operator certification. Understanding these additional expenses upfront will help you plan more accurately and avoid unexpected financial setbacks.

• Transportation:

  • Renting a trailer or truck for transporting smaller excavators

  • Hiring specialized hauling services for larger machines

  • Obtaining permits for oversized loads

• Insurance:

  • Paying for liability insurance, typically $500 to $5,000+ annually

  • Purchasing equipment insurance, usually 1–3% of the machine’s value annually

• Training and Certification:

  • Maintaining required safety certifications and scheduling renewals

Tips for Reducing Costs of an Excavator

Managing costs goes beyond the initial purchase or rental price. Ongoing expenses like maintenance, fuel costs, and inefficient usage can quickly add up. Fortunately, with proactive strategies and smart operational practices, you can significantly reduce total ownership or rental costs. Here are practical tips to help you get the most value from your equipment while keeping expenses under control.

• Proper maintenance:

  • Follow manufacturer-recommended service schedules

  • Perform daily inspections and address issues promptly

  • Use high-quality lubricants and filters

• Efficient operation techniques:

  • Train operators in fuel-efficient practices

  • Minimize idle time and optimize work cycles

  • Use the right attachments for each task

• Choosing the right size for the job:

  • Avoid over sizing, which leads to higher fuel consumption and costs

  • Consider renting larger machines for occasional big projects

  • Evaluate your typical workload to determine the most cost-effective size

Decision Guide: Buy, Rent, or Hire

Before investing in an excavator, it’s important to consider your options carefully. Each approach (buying, renting, or hiring) comes with its own advantages and trade-offs, depending on your project frequency, budget, operational capabilities, and equipment needs. This guide will help you assess the most cost-effective and practical solution for your business or project by breaking down key decision factors.

• Frequency of use:

  • Buy if you need the excavator regularly (50%+ of your projects)

  • Rent for occasional use or specific project needs

  • Hire (with operator) for one-off jobs or when lacking experienced operators

• Financial considerations:

  • Analyze cash flow and capital availability

  • Compare long-term ownership costs vs. cumulative rental expenses

  • Consider tax implications and potential write-offs

• Project diversity:

  • Buy if your projects consistently require similar-sized machines

  • Rent or hire if your needs vary significantly between projects

• Maintenance capabilities:

  • Buy if you have the resources to maintain and repair equipment

  • Rent or hire if you prefer to avoid maintenance responsibilities

• Storage and transportation:

  • Buy if you have adequate storage space and transportation means

  • Rent or hire if storage or transportation is a challenge

Choosing the Right Excavator

Selecting the right excavator isn’t just about size or price, it’s about matching the machine to your specific project needs and working environment. From understanding site conditions to evaluating performance specs and attachment compatibility, making the right choice can significantly impact productivity, efficiency, and long-term operating costs. Use the list below to guide your decision and ensure you invest in equipment that’s fit for purpose.

• Assess your typical projects:

  • Determine the average digging depth and reach required

  • Consider the types of materials you’ll be excavating

• Evaluate job site conditions:

  • Measure access points and working space

  • Assess ground conditions and stability

• Consider attachments:

  • Determine which attachments you’ll need regularly

  • Ensure compatibility with the excavator model

• Compare specifications:

  • Assess engine power and hydraulic flow

  • Review lifting capacity and breakout force

  • Consider fuel efficiency and emissions compliance

• Research brand reputation:

  • Read user reviews and industry reports

  • Investigate parts availability and dealer support

FAQ

If you’re still considering your options or have lingering questions about excavator costs and usage, this FAQ section covers some of the most common concerns. From pricing and machine lifespan to maintenance considerations, here’s what you need to know before making your next move.

What is the price of a 7 ton excavator?

A new 7 ton excavator typically costs between $60,000 and $100,000. Used 7 ton excavators generally range from $30,000 to $70,000 depending on age, condition, and hours of use.

Is 5000 hours a lot for an excavator?

5000 hours is not considered excessive for a well-maintained excavator. Most excavators are expected to last 7,000-10,000 hours before requiring major repairs or rebuilds. However, the actual lifespan depends heavily on maintenance, operating conditions, and usage patterns. Many excavators continue to operate productively well beyond 10,000 hours with proper care and maintenance.

Conclusion

Understanding excavator costs is crucial for making informed decisions in the construction industry. Whether you choose to buy, rent, or hire, consider all aspects of ownership and operation to determine the most cost-effective solution for your business. Remember that the cheapest option isn’t always the best in the long run. By thoroughly researching and analyzing your options, you can find the right balance between cost and performance, ensuring that your excavator investment contributes positively to your bottom line and that you make a smart decision.